Used Car Prices

I'm guessing that same car would've been around £4,700 a few years back.

It is all a bit silly.

My wife's car looking at auto trader it would cost about 7k* to put my wife in the same car today with the same milage and age. We paid 8k 5 years ago /60k miles ago.

And my car is the same price* to buy give or take what I paid for it just over a year/7000 miles ago.

Knowing how they are would I pay that for them. Would I ****....what I do know is I'll continue to look after them as best possible because I don't want to be buying a new one in this market.

*At a dealer not the price I'd get for selling.

Having just replaced a car, while the prices seem eye watering, the trade in values ease the pain

Having just replaced a car, while the prices seem eye watering,

I'm trying - but having trouble getting past the fact that 3/4 year old cars are only about £5k less than I could buy a new one for.

Yes, but if you wanted a new one, it would take a year to get it, possibly depending on exactly what you want!

I've just read a thing about electric car second hand values plummeting by 20%, new production getting back to normal and basically another adjustment in the market underway... Suggested there's also a move from many to get hold of combustion engine cars as many have realised that the cost of electric and limitations don't suit them.

You'll find any amount of contrarian anti-EV motivated reasoning in the press if you look for it. It will probably keep going for years. "It ran out", "the charger didn't work". blah blah clickbait.

Or you can just look at the numbers and see the proportion rising exponentially year on year, which will continue to near-saturation.

I think the main thrust though was people don't trust second hand batteries...

Having just replaced a car, while the prices seem eye watering, the trade in values ease the pain

I'm on the lookout for something a bit more useful at the moment, and this is very true. Nonetheless, the thought of spending five figures on a car for the first time in my life is leaving me with nausea! Annoyingly I saw exactly what I wanted in the autumn but when I saw the sp I thought they were taking the proverbial. I realize now it was actually a pretty good deal in the new world order.

I do detect a very slight cooling up here in the highlands but it is only slight. Also possible that I am just numb to it now!

I just bought a new (2nd hand) car this week. It pains me to spend these prices but it's needed for family holiday trips. Trade was ok, but obvs all relative so long term loan eases the pain.

EV prices are dropping quite quickly now. Lithium is the cheapest it’s been for several years, Tesla are slashing prices (again) and there are quite a few cars both new and second hand now entering the market. This coupled with now significant costs to recharge and problems with the infrastructure while on the move are all combining to drop prices.

Additionally, many of the earlier cars that have only upto 150miles range are significantly less desirable now that there are alternatives with longer range.

Funny you should say that I saw a thread on Pistonheads last month with a chap trying to get shot of his Cupra born EV

https://www.pistonheads.com/gassing/topic.asp?h=0&t=2020026

Probably doesn’t help where the manufacturers all registered a load of EVs at the end of the year to hit the EU fleet average targets.

We sold my Mrs 17 year old mini in January and we can’t quite come to terms with how much we will need to spend to get her something newer that will last a good few years. Hasn’t changed much since covid and I can’t see much happening to change the market anytime soon, may just end up getting more expensive as the deadline looms🙁